The web 3 technology business Chiru Labs, recognised for its ownership of the NFT collections "Azuki" and "BEANZ," and the digital IP platform company IPX (previously LINE FRIENDS), have partnered strategically. With this agreement, IPX hopes to diversify into Chiru Labs' NFT-related IP industry and present a range of Web 3–based IP partnerships.
An organisation called Chiru Labs develops decentralised anime brands at the nexus of art, technology, and culture. With nearly $1 billion in secondary trading in 2022, the company attained the second-highest secondary trading volume for an NFT collection ever. Azuki, its collection of open anime universes, debuted in January 2022. In March 2022, Chiru Labs debuted its BEANZ line. BEANZ are adorable beings with a variety of distinct characteristics in the world of Azuki, which is set in a made-up universe known as the Garden. In addition to its success with Azuki, Chiru Labs has been at the forefront of emerging web 3 technological advancements like PBT (Physical Backed Token), an open-source token standard that links tangible objects to a digital token.
By utilising its innovative capabilities and IP business know-how to develop products and licence Chiru Labs' NFT IP BEANZ, IPX hopes to increase its global IP presence through this relationship. Additionally, IPX seeks to highlight partnerships based on Web 3 through mashups between its digital intellectual properties, starting with the collaboration of IPX's LINE FRIENDS character IP and Chiru Labs' BEANZ through the two firms' other intellectual property-related partnerships, including Azuki, WADE, and OOZ & mates. This will expand the business's domain and level of expertise in digital IP-centered industries, delivering a unique IP business model that cuts through online and offline limitations.
"We are pleased to announce a new partnership between IPX and Chiru Labs, that are both pioneering innovative business practices in the fields of character IP and web 3 technology respectively", said Logan Cho, the Head of the Metaverse Business at IPX, "Building on our successful partnership with global blockchain company CRIPCO last year, we plan to complement Chiru Labs' IPs with our multi-faceted character IP business strategy. Moreover, we are eager to unveil an expanded IP business that encompasses Web 3, offering collaborative opportunities for both NFT holders and character IP enthusiasts alike".
"We are excited to collaborate with IPX, that is a global leader in building innovative character IP brands beloved by millions of fans across the globe", said Zagabond, the founder and CEO of Chiru Labs,"IP is evolving, and we see the web3 community as an integral part of this next wave. We can't wait to bring the world of our IPs together", he added.
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